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AUDUSD: Weakens, Faces Further Bear Pressure

FX_IDC:AUDUSD   澳元/美元
AUDUSD             . The pair continues to hold on to its downside pressure leaving risk lower. On the downside, support resides at the 0.7500 level where a breach will aim at the 0.7450 level. Below that level will set the stage for a run at the 0.7400 level with a cut through here targeting further downside pressure towards the 0.7350 level. On the upside, resistance lies at the 0.7600 level. A cut through here will turn attention to the 0.7650 level and then the 0.7700 level where a violation will set the stage for a retarget of the 0.7750 level. On the whole, AUDUSD             remains biased to the downside nearer term.

Strategy: Sell at 0.7550, Stop loss at 0.7619, Price target at 0.7450 & 0.7410
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